On 10 November 2020—following a WTO arbitrator’s decision issued on 13 October 2020 authorising the EU to implement retaliatory tariffs on US origin goods due to US subsidies of US aircraft production—the EU implemented supplemental tariffs on an estimated trade value of USD 4 billion per annum of US-origin goods imported into the EU.
The impacted US-origin goods are subject to two levels of supplemental tariffs, as follows:
Supplemental tariffs will not apply to the identified products if an import licence with an exemption from or a reduction of duty had been issued prior to the entry into force date, or if an importer can prove that the identified products were exported from the US and destined to the EU prior to the date the supplemental tariffs went into effect.
Deloitte’s Global Trade Advisory specialists are part of a global network of professionals who can provide specialised assistance in global trade matters. Our professionals can help companies seeking to manage the impacts and potential impacts of the developments described above by:
Meng Yew Wong